Wolters Kluwer Leverages GenAI to Revolutionize Tax and Legal Research
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Wolters Kluwer Harnesses GenAI for Enhanced Tax and Legal Research
Human-in-the-Loop approach prioritizes accuracy and reliability in CCH iKnowConnect enhancing tax and legal research for professionals Wolters Kluwer Tax & Accounting (TAA) Asia Pacific (APAC), a leader in professional information, software solutions, and services, announces important GenAI-enabled enhancements to CCH iKnowConnect, its prominent tax and legal research platform. Wolters Kluwer now offers an enhanced search experience with the Questions and Answers feature in CCH iKnowConnect. Combining the power of the generative AI and deep domain expertise, the solution can harness an extensive AI-generated Questions and Answers repository. Users will be presented with a relevant, editorially curated question and answer result, with answers that have been reviewed by Wolters Kluwer experts, with the goal of ensuring the quality and reliability of the provided answers. For added transparency and depth, each answer includes direct links to the source material within CCH iKnowConnect, empowering users to verify information and explore topics further. "Our priority is to deliver the most accurate and reliable information to our customers possible," said Megan Mulia, Managing Director, TAA APAC. "By employing GenAI as a tool to support our editorial team, we can enhance efficiency while maintaining the highest standards of quality control through expert review." This approach addresses the pressing challenge many tax and legal professionals face: the need to sift through various documents and platforms to locate specific information - a task that can consume up a substantial amount of their research time. Wolters Kluwer's commitment to the concept of firm intelligence underlies these enhancements, empowering professionals to maximize their expertise and optimize their potential. The ongoing investments into technological infrastructure continue to deliver new AI-enabled capabilities to tax and accounting professionals. "Wolters Kluwer remains committed to listening to its customers and delivering innovative solutions that bolster their efficiency and workflow. The overarching objective is to help clients grow their businesses by increasing firm intelligence, enabling them to make informed decisions on complex issues," continued Mulia. To learn more about CCH iKnowConnect please visit: https://www.wolterskluwer.com/en-au/solutions/cch-iknowconnect Responsible AI Wolters Kluwer adheres to development standards and processes that promote responsibility and accountability for AI systems and their outcomes. The company addresses risk management and issue remediation during design, development and after deployment. In 2023, the company released its AI Principles, which support the development of secure, explainable AI that is rooted in its high-quality, expert-curated, domain content. Wolters Kluwer TAA enables tax and accounting professionals and businesses of all sizes to drive productivity, navigate change, and deliver better outcomes. Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services. Wolters Kluwer reported 2023 annual revenues of €5.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,400 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.
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Wolters Kluwer Harnesses GenAI for Enhanced Tax and Legal Research By Investing.com
Human-in-the-Loop approach prioritizes accuracy and reliability in CCH iKnowConnect enhancing tax and legal research for professionals SYDNEY--(BUSINESS WIRE)--Wolters Kluwer Tax & Accounting (TAA) Asia Pacific (APAC), a leader in professional information, software solutions, and services, announces important GenAI-enabled enhancements to CCH iKnowConnect, its prominent tax and legal research platform. Wolters Kluwer now offers an enhanced search experience with the Questions and Answers feature in CCH iKnowConnect. Combining the power of the generative AI and deep domain expertise, the solution can harness an extensive AI-generated Questions and Answers repository. Users will be presented with a relevant, editorially curated question and answer result, with answers that have been reviewed by Wolters Kluwer experts, with the goal of ensuring the quality and reliability of the provided answers. For added transparency and depth, each answer includes direct links to the source material within CCH iKnowConnect, empowering users to verify information and explore topics further. Our priority is to deliver the most accurate and reliable information to our customers possible," said Megan Mulia, Managing Director, TAA APAC. "By employing GenAI as a tool to support our editorial team, we can enhance efficiency while maintaining the highest standards of quality control through expert review. This approach addresses the pressing challenge many tax and legal professionals face: the need to sift through various documents and platforms to locate specific information - a task that can consume up a substantial amount of their research time. Wolters Kluwer's commitment to the concept of firm intelligence underlies these enhancements, empowering professionals to maximize their expertise and optimize their potential. The ongoing investments into technological infrastructure continue to deliver new AI-enabled capabilities to tax and accounting professionals. Wolters Kluwer remains committed to listening to its customers and delivering innovative solutions that bolster their efficiency and workflow. The overarching objective is to help clients grow their businesses by increasing firm intelligence, enabling them to make informed decisions on complex issues, continued Mulia. To learn more about CCH iKnowConnect please visit: https://www.wolterskluwer.com/en-au/solutions/cch-iknowconnect Responsible AI Wolters Kluwer adheres to development standards and processes that promote responsibility and accountability for AI systems and their outcomes. The company addresses risk management and issue remediation during design, development and after deployment. In 2023, the company released its AI Principles, which support the development of secure, explainable AI that is rooted in its high-quality, expert-curated, domain content. Wolters Kluwer TAA enables tax and accounting professionals and businesses of all sizes to drive productivity, navigate change, and deliver better outcomes. For more information on the latest in AI, please visit Wolters Kluwer's corporate AI Center or the TAA AI Hub page. About Wolters Kluwer Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services. Wolters Kluwer reported 2023 annual revenues of €5.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,400 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.
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Wolters Kluwer, a global leader in professional information services, has announced the integration of generative AI into its tax and legal research tools. This move aims to enhance efficiency and accuracy in professional workflows.
Wolters Kluwer Embraces Generative AI
Wolters Kluwer, a renowned global provider of professional information services, has taken a significant step forward in the realm of tax and legal research. The company has announced the integration of generative AI (GenAI) into its suite of tools, marking a new era in professional information services 1.
Enhanced Research Capabilities
The incorporation of GenAI into Wolters Kluwer's platforms is set to revolutionize how professionals conduct tax and legal research. By leveraging this cutting-edge technology, the company aims to streamline workflows and improve the accuracy of information retrieval. This integration is expected to significantly reduce the time professionals spend on research tasks, allowing them to focus more on analysis and client service 2.
Key Features and Benefits
The GenAI-powered tools offer several key features that set them apart from traditional research methods:
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Natural Language Processing: Users can now input queries using everyday language, making the research process more intuitive and user-friendly.
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Contextual Understanding: The AI system is designed to comprehend the context of queries, providing more relevant and precise results.
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Summarization Capabilities: Complex legal and tax documents can be automatically summarized, saving professionals valuable time in digesting information.
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Cross-referencing: The AI can quickly identify and link related information across various sources, offering a more comprehensive view of any given topic 1.
Commitment to Responsible AI
Wolters Kluwer emphasizes its commitment to responsible AI development and implementation. The company has put in place rigorous safeguards to ensure the accuracy and reliability of the information provided by its GenAI tools. This includes human oversight and continuous monitoring to maintain the high standards expected in professional services 2.
Industry Impact and Future Outlook
The integration of GenAI into Wolters Kluwer's platforms is expected to have a significant impact on the tax and legal professions. As these tools become more sophisticated and widely adopted, they have the potential to transform how professionals approach research and analysis. This move by Wolters Kluwer may also inspire other companies in the sector to accelerate their AI adoption, potentially leading to a broader transformation of the professional services landscape 1.
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